Are you unable to open a savings account because you don't have a valid identity/address proof? Many bank accounts are rejected during the account opening stage due to missing documents. To help people with insufficient documents to apply for a savings account and to encourage them to apply for the document without any further ado, Bandhan Bank has introduced the Basic Savings Deposit Account- Small. Customers can apply for this account with minimum documents and allow them a window of 12 months after the account is opened to apply for the missing documents which are mandatory as per the list of KYC documents. Customers also get an additional 12 months to submit the missing documents. It is time you educate people around you about this revolutionary savings account and introduce everyone to mainstream banking system.
Features and benefits of Bandhan Bank Basic Savings Deposit Account- Small
- No minimum balance requirement.
- Customers with Bandhan Bank Basic Savings Deposit Small Account get a free ATM-cum-debit card with nil annual maintenance charges.
- Customers also get a free passbook to keep a track on their transactions.
- The balance in Bandhan Bank Basic Savings Deposit Small Account should not exceed Rs.50,000.
- Customers will not be allowed to withdraw/transfer more than Rs.10,000 per month.
- The aggregate of all credits in a financial year should not exceed Rs.1 lakh.
- Customers are eligible for a maximum of 5 withdrawals in a month at Bandhan bank ATMs or other Bank ATMs.
- Generally, foreign remittances are not allowed to be credited in a Bandhan Bank Basic Savings Deposit Small Account. It will be allowed only in special cases where the identity of the client is fully established by producing an officially valid document.
- Customers will be able to transfer funds free of cost by NEFT/RTGS/IMPS.
- Any deposits or collection of cheques drawn by the central or state government will be free of cost.
- Bandhan Bank Basic Savings Deposit- Small Account holders will not be charged debit card issuance charges.
- No charge will be levied to activate an inoperative account.
- Bandhan Bank Basic Savings Deposit Account- Small is eligible to earn high interest rate like any other savings account.
- Free net banking and mobile banking facilities are given to all customers of the Bandhan Bank Basic Savings Deposit Account- Small.
- At Par cheques issued by Bandhan Bank is recognised as “Local Clearing” cheques across all Bandhan Bank branches in India which eliminates DD charges which are otherwise payable by the customer.
- Customers can enjoy transferring funds to over 65,000 bank branches in India through IMPS, RTGS, or NEFT options.
- Nomination facility is available. Customers can nominate one person to take care of their assets in case of an eventuality.
- Customers can pay their bills promptly using Bill Pay option given by Bandhan Bank.
- Round-the-clock customer service option is available for Bandhan Bank customers.
How to apply for a Bandhan Bank Basic Savings Deposit Account- Small?
Customers can apply for a Bandhan Bank Basic Savings Deposit Account- Small online using the bank’s website. Once a customer clicks on the “Apply Now” button, he/she will be asked to enter basic details like name, email ID, and mobile number. The customer has to fill these details and click on the “Submit” button. Once the form is submitted, the customer will receive a call from an executive from Bandhan Bank who will explain the account opening process. Alternatively, customers can visit the nearest Bandhan Bank branch directly and fill the account opening form and submit it to the bank officer who will guide the customer throughout the account opening process.
Documents required to open a Bandhan Bank Basic Savings Deposit Account- Small
The documents that are required to open a Bandhan Bank Basic Savings Deposit Account- Small are listed below:
- PAN card or Form 60/61 where PAN card is not available
- Birth certificate of the minor
- One passport size colour photograph
- Identity proof like passport/driving license/voter's ID/photo debit/credit Card
- Address proof like passport/driving license/voter's ID/utility bill
- Duly-filled account opening form
Fees and charges
|Average quarterly balance||Nil|
|Cash deposit||Up to Rs.5 lakh free per month|
|IMPS/NEFT/RTGS||Up to 5 transactions free|
|Cheque leaves||Up to 500 cheque leaves free per month|
|Debit card issuance||Nil|
|Debit card AMC charges||Nil|
|ATM transactions in Bandhan Bank||Unlimited|
|ATM transaction in Non-Bandhan Bank||Unlimited|
|Issuance of passbook||Free|
|Issuance of annual consolidated statement||Free|
|SMS alert facility||Free|
|Debit card annual charges||Nil|
|Debit card reissuance charges||Rs.150|
|Debit card Pin re-generation charges||Nil|
|DD issuance charges||
|Duplicate DD Issuance||Rs.100 per instrument|
|DD cancellation/revalidation||Rs.100 per instrument|
|Cheque stop payment||Rs.100 per instrument Rs.300 per series|
|Duplicate passbook with current balance or with previous 400 entries||Rs.100|
|Duplicate annual consolidated statement||Rs.200|
|Additional cheque leave after the free cheque leaves||Rs.2 per cheque leaf|
|Customer induced account closing within 6 months||Rs.300|
Bandhan Bank Basic Savings Deposit Account- Small FAQs
- Will I get a chequebook with my Basic Savings Deposit Small Account?
Yes. You will get a chequebook with your Basic Savings Deposit Small Account upon request.
- How can I re-apply for an ATM/Debit card pin?
ATM/debit card application form is available online or at any Bandhan Bank branch. You will have to fill the form and submit it to a bank officer. After verification, Bandhan Bank will send your new PIN to your mailing address.
- How do I change my residence address on the bank’s records?
You will have to fill the application available online or any of the Bandhan Bank branch to change your residential address and submit it at the nearest bank branch.
- What happens to my savings account if I do not use it for many years?
If you do not use your account for more than 2 years, the account will be listed as “Dormant Account”. You cannot withdraw from the ATM or carry out any activities on net banking if the account is listed as dormant. You will have to get in touch with the bank to reactivate your TASC Savings Account.
- I want to set up standing instructions on my account. Is it possible?
Yes. Standing instructions facility is available in Bandhan Bank Basic Savings Deposit Small Account.
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